RBC Capital lowered the firm’s price target on Shift4 Payments (FOUR) to $127 from $154 and keeps an Outperform rating on the shares. The company’s Q1 beat on both revenue less network fees and adjusted EBITDA, though the firm’s price target cut reflects increased macro uncertainty as it lowers assumed enterprise value to expected forward EBITDA estimate to 13-times from 15-times, the analyst tells investors in a research note.
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Read More on FOUR:
- Shift4 Payments price target lowered to $125 from $138 at UBS
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- Shift4 Payments price target raised to $125 from $100 at Susquehanna
- Shift4 Payments upgraded to Buy from Hold at Benchmark
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